Disney Posts Strong Q2 Results

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Walt Disney Co. said Tuesday that second-quarter profit rose 22 percent as theme park traffic and box office sales from the film “National Treasure 2” boosted the bottom line.


Disney reported net income of $1.13 billion (58 cents per share), compared to $931 million (44 cents) in the same period a year earlier. The results beat Wall Street’s expectations of 51 cents per share, according to Thomson Financial.


Total revenue for the Burbank-based company grew 10 percent to $8.7 billion also beating analysts’ predictions of $8.47 billion.


The boost in revenues was fueled by an 11 percent gain in ticket sales at Disney theme parks and an 18 percent jump at its entertainment division. Sales at Disney’s cable division, which includes the Disney Channel and ESPN, gained 9.3 percent during the quarter. Revenue at the ABC network dropped domestically, mainly due to the writers strike, but were offset by an increase of international sales.


Disney added that its theme parks weathered the sluggish economy as more families visited U.S. resorts, and international travelers took advantage of a drop in the dollar to come to the states.


Shares in Disney closed up 1.3 percent Tuesday and continued to gain an additional 2.6 percent to $34.60 in after-hours trading.

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